With Chattanooga constantly growing and undertaking various developments, we figured it was time to talk about the cost of planting some roots in the Scenic City.
The overall cost of living in Chattanooga is lower than the national average at 86.5 (based on a US average of 100), and lower than the rest of the state.
In Chattanooga, the cost of healthcare is higher compared to the US average. However, the cost of groceries, housing, utilities, and transportation in the city is lower than the national average.
Breaking down the numbers
Hypothetically speaking, if you live in a household that brings in $50,000 annually – according to experts — you shouldn’t spend more than 30% of your monthly gross income on rent and utilities. We did the math for you: Your max monthly budget would be $1,250. The average monthly rent for an apartment in Chattanooga is $1,400, putting you over budget.
Take a look at the chart below to see how Chattanooga’s cost of living compares to that of the capital city of Nashville (howdy, NASHtoday).
Interested in seeing Chattanooga’s cost of living compared to other cities? We played around on nerdwallet’s cost of living calculator, where you can put in any city along with your current pre-tax household income.
We took a look at the cost of living in Chattanooga compared to Austin, TX (hey, ATXtoday). Here’s what we found:
- The cost of living is 9% higher in Austin.
- To maintain a $50,000 Chattanooga household income standard of living, we would need to bring in $54,448 in Austin.
- The median cost for a two-bedroom apartment is $1,734 — $334 more than Chattanooga.
To help with affordable housing, Chattanooga recently released an Affordable Housing Search Tool — an interactive, data-driven resource created in collaboration with Bloomberg’s City Alliance.